Sinotrans Shipping splashes out $162m on six new bulkersSinotrans Shipping splashes out $162m on six new bulkers

Two 78,000 dwt bulkers will be built at Jiangnan Shipyard (Group) and four 64,000 dwt bulkers will be built at Chengxi Shipyard. All the newbuildings are scheduled for delivery within the second half of 2015.

Sinotrans Shipping, owner and operator of dry bulk and container vessels, entered into the ship construction contracts due to the current relatively low newbuilding prices, and it sees itself as having sufficient capital resources.

“The acquisition of the energy-saving new vessels will enable the company to optimise the composition of its fleet, expand the capacity of its self-owned fleet of dry bulk vessels and add flexibility to the company in its dry bulk vessel chartering business,” Hong Kong-listed Sinotrans Shipping said.